Northern Prawn Fishery Voluntary
Adjustment Scheme Loan Guarantee
Amendment Act 1990

No. 123 of 1990

An Act to amend the Northern Prawn Fishery Voluntary
Adjustment Scheme Loan Guarantee Act 1985

[Assented to 28 December 1990]

The Parliament of Australia enacts:

Short title etc.

1.  (1) This Act may be cited as the Northern Prawn Fishery Voluntary Adjustment Scheme Loan Guarantee Amendment Act 1990.

(2)   In this Act, “Principal Act” means the Northern Prawn Fishery Voluntary Adjustment Scheme Loan Guarantee Act 1985¹.

Commencement

2.  This Act commences on the day on which it receives the Royal Assent.

Guarantee of certain loans

3.  Section 5 of the Principal Act is amended:

(a)  by adding at the end of subparagraph (1) (a) (i) “and”;

(b)  by inserting after subparagraph (1) (a) (ii) the following subparagraph:

“(iia)    making payments to persons who are, or have been, the holders of units of fishing capacity under that Act in relation to that fishery in respect of the voluntary withdrawal by them of a boat or boats from fishing in that fishery; and”;

(c)  by omitting from subparagraph (1) (a) (iii) “for Primary Industry”;

(d)  by omitting from subsection (2) “$5,000,000” and substituting “$40,900,000”.

NOTE

1.     No. 111, 1985.

[Minister’s second reading speech made in—

House of Representatives on 8 November 1990

Senate on 15 November 1990]